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Public Employees Contributory Retirement Scheme - Appointment of Managers.

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made (16/09/2008) regarding: Public Employees Contributory Retirement Scheme - Appointment of Managers.

Decision Reference:      MD-TR-2008-0099

Decision Summary Title:

Public Employees Contributory Retirement Scheme - Appointment of Managers

Date of Decision Summary:

15th September 2008

Decision Summary Author:

George Butler – Strategic Investments Manager

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written and Oral

Person Giving

Oral Report:

George Butler – Strategic Investments Manager

Written Report

Title:

Public Employees Contributory Retirement Scheme – Appointment of Managers

Date of Written Report:

15th September 2008

Written Report Author:

George Butler – Strategic Investments Manager

Written Report :

Public or Exempt?

Public

Subject: 

Public Employees Contributory Retirement Scheme - Appointment of Managers

Decision(s):

The Minister approved the Committee of Management’s proposals in respect of the appointment of Baillie Gifford and AXA Framlington as unconstrained global equity managers for the PECRS Fund.

Reason(s) for Decision:

Regulation 5 of the Public Employees (Contributory Retirement Scheme) (General) (Jersey) Regulations 1989 provides for the Public Employees Contributory Retirement Scheme Committee of Management to appoint investment managers subject to the consent of the Minister for Treasury and Resources.

Resource Implications:

Other than those detailed in the report there are no further financial or manpower Implications.

Action required:

The Treasurer of the States to inform the secretary of the Committee of Management of the Minister’s decision and sign the necessary documentation in respect of the appointments.

Signature: 
 
 

Position: Senator T A Le Sueur, Minister for Treasury and Resources 

                 

Date Signed: 16th September 2008

Date of Decision: 16th September 2008

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